Favorite client lines

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Jan 18, 2009 5:55 pm

got one of my favorites again last week.  " I want to buy "xyz" stock when it bottoms." Also got recently "I want to make money back when the market rallies, but i do not want to lose anymore."  Anyone one else hear anything like this, or is just me?

Jan 18, 2009 6:07 pm
fritz:

got one of my favorites again last week.  " I want to buy "xyz" stock when it bottoms." Also got recently "I want to make money back when the market rallies, but i do not want to lose anymore."  Anyone one else hear anything like this, or is just me?

 
Please, send me this client in bold.  I can take care of him 100% no problem.  As a matter of fact, I am going to use that line to prospect. 
Jan 18, 2009 7:30 pm

Had an option guy for about 5 years who called every day and wanted to do something every day.  Would talk him out of the trade maybe 2/3 of the time, but still even discounted trades of about 100.00 it added up.  He asked me one time how he could get the trading costs lower?  I said trade less

Jan 19, 2009 12:32 am

Client:  "I am going to wait until things get better to invest."

Me:  "How much from right here does the market have to go up before it is better?"
Client:  "Uhhhhh...."
Jan 20, 2009 9:29 am

"Those bonds are so dangerous, whats it rated?"

 
"A-"
 
"A-?"
 
"Yeah A-"
 
"No Way!, thats almost BBB and BBB is almost C!"
 
the fact that he said it with such authority is what made it so great.  Oh and if you were wondering, he moved 60% of his money to CD's.
Jan 20, 2009 11:26 am
Ferris Bueller:

Mutual fund client, 100% equities after getting his November statement, "At this rate I'll have no money by March."

 
I love it when they use that math.  Makes me wonder if those people shouldn't immediately be put into long term fixed annuities and forgotten about. 
Jan 20, 2009 2:45 pm
Ferris Bueller:

Mutual fund client, 100% equities after getting his November statement, "At this rate I'll have no money by March."

 
It's actually a funny statement when a client says it (half) jokingly.  I've had a few people say something to that effect to me. 
 
I did once have a client say to me (in 2007!!) after the market dropped a bit, and was 75% in bonds...."I just don't want to ride this thing to zero!"  He was down like 3%.  He ACAT'd out a month later.  He would call me WEEKLY for updates, and then claimed that he was leaving because I did not call HIM enough.  It was one of those "I knew I shouldn't have taken this guy" moments.
Jan 20, 2009 2:49 pm

One of my best was " You mean YOU can fire ME. Is that possible?" 

Jan 20, 2009 2:50 pm

Haven't done it yet, but veterans tell me it's the best feeling in the world (well, after a kick-a$$ month).

Jan 20, 2009 4:52 pm
B24:

Haven't done it yet, but veterans tell me it's the best feeling in the world (well, after a kick-a$$ month).




Bob Dunwoody told me to do it. He promised that I'd feel great and he was right.

Jan 20, 2009 10:38 pm
Ferris Bueller:

Mutual fund client, 100% equities after getting his November statement, "At this rate I'll have no money by March."





Ferris.



You're right on target!

Jan 20, 2009 10:57 pm

One guy called me today an hour before the close and said "he wants to sell everything after we get a rally, because this thing is going to get a lot worse before it gets better"  I said "whats the definition of a rally, 50 pts, 500pts, 1500pts?  He said Huh? then said "your the one watching let me know when a rally comes and then we can sell".  I said Ok, then looked at the clock to see how much longer the market was open so i would not have to = pick up my phone anymore.

Jan 20, 2009 11:12 pm

Guy told me the market was down today because all the buyers were in Washington at the inauguration.


Jan 21, 2009 6:33 am

Fritz, if your post is serious, don't you need to call that client back and fire him or do something differently?  It seems to me that you have just created liabiliity for yourself if the market rallies and then falls.  What are you going to do if the market increases 500 points this morning and then falls 1000 in the afternoon?

Jan 21, 2009 9:39 am

If this was a normal person maybe, but after 10 years I already know that after it rallies 200 points he is going to give me a list of 5 stocks to buy.

Jan 22, 2009 10:33 am

One that had me scratching my head - I would rather have the 5% CD at the bank than the bonds because I DON'T HAVE TO PAY TAXES ON THE INTEREST MY CD EARNS....... 

Jan 22, 2009 10:52 am

I think your client has CDs crossed with fixed annuities...